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It's a stunning fall, without having parallel in Malaysia’s tech background. Far more so, as Ivan is definitely the closest factor to becoming the golden boy for Malaysian tech, developing a company to contend during the company tech House in opposition to world wide tech players.
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An ecosystem chief accustomed to the contents of Hitachi’s winding up petition did not mince his belief from the alleged conduct by Ivan and his Management staff.
Hitachi court docket petition to wind up Fusionex, reveal grim image of alleged unethical and irresponsible conduct by Ivan Teh and his senior leadership
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It is additionally not identified if Hitachi has reached out to any shoppers to help them, nevertheless such initiatives are clearly handicapped by it not being aware of who Fusionex’s clients even are outside of the big types where the agreement wins were being accompanied by media releases.
Hitachi placed 5 of its executives as non-govt directors around the board with Ivan and his CFO, Chen Chiang as executive administrators.
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However the dust is just not going to decide on this Tale as Ivan and his senior execs who remaining quickly are hoping for. Not when The solution to Hitachi’s drastic winding up software is laid bare in the in depth courtroom submission.
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Many expressed shock and disbelief that not only Ivan, but users of his leadership crew could behave in these kinds of an unprofessional, unethical and irresponsible manner. “If This is certainly genuine, and I Truthfully find it not easy to imagine, then they have opened on their own to authorized motion from Hitachi as well as doable censure from the Skilled bodies They are really members of,” mentioned a single tech ecosystem chief with a strong corporate background.
A couple of days later on the inhouse legal counsel for Fusionex showed Hitachi’s legal professionals a duplicate of A different ‘governing administration directive’ dated 27 Nov which presupposed to prohibit Fusionex from sharing any info While using the audit committee.